Cullen/Frost Bankers, Inc. $CFR Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 19.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,810 shares of the bank’s stock after acquiring an additional 85,267 shares during the quarter. Artemis Investment Management LLP owned about 0.84% of Cullen/Frost Bankers worth $79,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFR. BlackRock Inc. acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth about $1,133,453,000. Jupiter Topco LLC purchased a new position in Cullen/Frost Bankers during the 2nd quarter worth approximately $94,297,000. William Blair Investment Management LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $89,425,000. The Manufacturers Life Insurance Company acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $80,127,000. Finally, Bank of New York Mellon Corp purchased a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $79,846,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Morgan Stanley lifted their price objective on shares of Cullen/Frost Bankers from $200.00 to $201.00 and gave the company an “overweight” rating in a research note on Monday, September 28th. Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their target price for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their price target on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $170.18.

Cullen/Frost Bankers Stock Performance

CFR traded up $1.21 during trading on Thursday, reaching $151.57. The company’s stock had a trading volume of 141,306 shares, compared to its average volume of 555,709. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. The company’s fifty day moving average price is $161.67 and its 200-day moving average price is $151.17. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $170.80. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The business had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. During the same period last year, the firm earned $2.39 EPS. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.94 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 38.94%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.